Elise Lucet and the “Cash Investigation” team investigated the ultra-rich, this special world with its tailor-made rules and tax privileges. A document to be seen on November 16, 2023 at 9:10 p.m. on France 2.
There is one area where France excels, and that is wealth. It is the third country with the most millionaires in the world. The richest woman in the world, Françoise Bettencourt Meyers, the heiress of L’Oréal, is French, as is the second richest man in the world, Bernard Arnault, the boss of LVMH.
The weight of inheritance
In this issue, Elise Lucet and the “Cash Investigation” team focused on the ultra-rich, this world apart with its tailor-made rules and tax privileges.
First of all, to be rich in France, it is better to be well born. The share of inheritance in wealth continues to increase: 60% of French billionaires have inherited a company.
Tax gifts
To transfer their companies without being overly taxed, they can take advantage of tax loopholes, such as the Dutreil pact, a super reduction of 75%, very advantageous, but a shortfall for the state coffers estimated by economists at 2 to 3 billion euros each year.
This is not the only tax advantage enjoyed by the ultra-rich. When they rent a yacht, they have the opportunity to spend their vacation on the water duty free. Journalist Elise Menand reveals the existence of a transport contract which allows you not to pay VAT on yacht rentals, or taxes on diesel. As a result, gasoline is half price. This tax gift can represent several tens of thousands of euros in savings for the weekly rental of a yacht.
CAC 40: increasingly rich bosses
They are part of the richest 0.01% of French people and in less than ten years, their remuneration has almost doubled. These are the bosses of the CAC 40. “Cash Investigation” investigated these groups where salary inequalities continue to grow.
At Carrefour, the remuneration of the CEO, Alexandre Bompard, has sparked criticism. It is more than 300 times higher than the average income of Carrefour employees and has increased by 26% since his arrival at the head of the brand. During the same period, the group went from 115,000 to 85,000 employees in France. The magazine reveals what happened at the retail giant.
An investigation by Elise Menand.
> THE GREAT DEBATE
After this new issue of “Cash”, the magazine is offering a major debate. Guests from all walks of life answer Elise Lucet’s questions.
Cash Investigation: revelations, a debate, solutions.
“The wonderful world of the ultra-rich”, an investigation by “Cash Investigation” to be seen on November 16, 2023 at 9:10 p.m. on France 2.
> Replays of France Télévisions news magazines are available on the Franceinfo website and its mobile application (iOS & Android), “Magazines” section.